Living Room of Satoshi is the site that allows you to safely pay with a credit card for electricity, phone and other Australian bills by popular cryptocurrencies. Most Australians use this resource, and in 2015 the team received the Best New Startup award. Let's talk about the site and how they use Dash - one of the most popular cryptocurrency.
You can pay with Bitcoin not only on the Internet, but also in shops and cafes. Other cryptocurrencies can only be exchanged for dollars, rubles and another fiat money. The site "Satoshi's Living Room" combined 12 cryptocurrencies, allowing Australians to use them in everyday life.
On the main page we select Dash (or any other available cryptocurrency). Then choose the purpose of use. The user can do the following:
- payment of bills. You can pay any bills accepted by the BPAY payment system;
- transfer of currency to a credit card. Use the BPAY data located at the bottom of the credit card statement to pay with Dash;
- transfer to a bank account. On the main page you enter data from the Australian account to transfer money to it.
The LRoS user can pay at once with a credit card, and cryptocurrency will be exchanged for AUD automatically.
The site encourages customers with bonuses for using the resource1 point is returned for every dollar spent on bills and payments. You can exchange your accumulated bonuses for cash or gifts to family and friends, gadgets, any useful items for home.
To see the number of bonuses or use them, you should go to the Rewards section. Information about gifts is divided into some sections:
- financial resources;
- house and garden;
- fashionable accessories;
- health and life style.
In the section "Enough points" you can see what kinds of gifts you can get for your points.
Points are counted even if you are not registered. If you want to see the points, you need to register or log in.
To use the Living Room of Satoshi resource, you do not need to be registered. You can pay bills on the main page. However, registration gives users more options. The payment history is saved; in the bonus section you can view the points. On the rewards page, just click "Sign in". The system will offer you to enter your account information or create a new one.
The data for logging into the site is significantly different from the requirements on other resources. If most systems ask for login and password while entering, LRoS does not need a password. You should enter two temporary words that come to your e-mail after registration. Security there is at a high level, the words are used once, and after that they are changed. The system remembers the user's address, and you do not have to enter new words continuously.
The developers take care of the confidentiality of each customer. The system saves a minimum of data. For example, you do not need to enter a first name, last name, date of birth, or any other similar data. You only need to enter an e-mail address.
Accounts and payments
Due to ASIC requirements, the system limits individual transactions: each transaction should not exceed $ 1,000. But if you want to pay more than $ 1,000, you can easily do it. The customer can create several accounts with the same payment requisites. To save time, use the "Copy data to new account" button. This method is applied to any bank account and payment by BPAY.
Every user can pay bills whereon BPAY logo is. More than 19,000 companies use this payment system. The accounts with the Biller code are available for payment. You can pay your own or any other Australian bank account.
Payment is made after 4 confirmations on the same day, when the transfer of Dash cryptocurrency is completed. With any changes in the cryptocurrency rate, the site acts on its own. If payment on LVoS is entered in the account before 5 pm on a business day, data processing will occur on the same day. Remember, the funds can be blocked within 3 days and you can use them only after this time.
Detailed information about the resource
The Living Room of Satoshi has both advantages and disadvantages. Before the final conclusion let's take a closer look at its pros and cons.
- the most convenient and fastest way to use Dash and other popular cryptocurrency in everyday life;
- no fee;
- changing exchange rate;
- the rate is calculated on Australian exchanges. This helps get to avoid a fee while transferring funds inside and outside the country;
- a user receives a bonus for every dollar spent on payments and bills.
- it is necessary to take into account the deadlines for blocking funds (3 work days) in case of problems with the transfer;
- the site assumes responsibility for changing a rate of each cryptocurrency presented in the system. If a course of cryptocurrency changes during the transfer of funds from the site to a bank card or bank account, the money comes to a user at the old exchanging rate.
LRoS is the ideal system for using any cryptocurrency that you want to transfer to Australian dollar. You can immediately pay by card or buy goods in the online store, and the system automatically converts crypto into AUD. If you are not going to trade large amounts on stock exchanges, be sure to use the Living Room of Saroshi website.
Find out more about Dash - here